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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Oct 10, 2009
Page
6
Stocks ended Friday with modest gains led by health care and utilities, pushing the Dow to 9,864.94, the S P 500 to 1,071.49, and the Nasdaq to 2,189.28 as markets closed at year highs. The week marked solid momentum despite a firmer dollar weighing on energy and materials sectors.
The August foreclosure rate in Cedar Rapids reached 1.53 percent, up from 1.09 percent a year earlier, with the Iowa rate at 1.5 percent and the national average at 2.86 percent. The 90 day delinquency rate stood at 8.37 percent in Cedar Rapids, vs 2.33 percent a year ago, against a national rate of 7.1 percent and state rate of 3.59 percent.
Development of Genesis Wellness Ecosystem moves toward site prep this fall after Marion approves terms. Developer Scott Weiss says key hurdles are resolved, with plans for four to 12 basketball courts, fitness areas, batting cages, pitching mounds, and an indoor aquatics center. First phase expected by late spring or early summer 2010. City will provide 400000 upfront cash and 600000 in tax rebates.
The Agriprocessors Inc. bankruptcy moves from Chapter 11 to Chapter 7 after SHF Industries LLC operating as Agri Star bought nearly all assets. Judge Kilburg approved the conversion, noting no operations remain to reorganize. Creditors face limited recovery as assets liquidate.
Cindy Hadish reports Baron Stark of Stark Real Estate in Fairfax has rebuilt and expanded in Czech Village Cedar Rapids buying about a dozen properties since last year’s flood. Eight commercial buildings six apartments and a house now anchor the district as renovations honor history and tax credits may cover up to half reconstruction costs. Stark funded the effort with personal funds and bank loans amid a revived village economy.
Iowa farmers expect 9.5 million bushels of soybeans this year down from 9.7 million last year. National data forecast record soybean production at 3.25 billion bushels and corn at 13 billion, with Iowa corn output rising to 2.51 billion and yields around 188 bushels per acre.
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